StockNews.com Begins Coverage on Odyssey Marine Exploration (NASDAQ:OMEX)

Equities research analysts at StockNews.com assumed coverage on shares of Odyssey Marine Exploration (NASDAQ:OMEX) in a research note issued to investors on Friday. The firm set a “sell” rating on the business services provider’s stock.

Odyssey Marine Exploration Trading Down 4.7 %

NASDAQ OMEX opened at $0.41 on Friday. Odyssey Marine Exploration has a 12 month low of $0.30 and a 12 month high of $5.57. The company’s 50 day simple moving average is $0.48 and its 200 day simple moving average is $0.66.

Insider Activity

In related news, Director Mark B. Justh purchased 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were purchased at an average price of $0.64 per share, with a total value of $32,000.00. Following the purchase, the director now owns 551,124 shares of the company’s stock, valued at $352,719.36. This trade represents a 9.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 7.10% of the company’s stock.

Institutional Trading of Odyssey Marine Exploration

Hedge funds have recently bought and sold shares of the company. Two Seas Capital LP increased its position in shares of Odyssey Marine Exploration by 2,449.0% in the fourth quarter. Two Seas Capital LP now owns 2,549,049 shares of the business services provider’s stock worth $1,835,000 after acquiring an additional 2,449,049 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Odyssey Marine Exploration in the 3rd quarter valued at approximately $32,000. Two Sigma Investments LP acquired a new position in Odyssey Marine Exploration in the 4th quarter worth approximately $25,000. Finally, XTX Topco Ltd grew its position in Odyssey Marine Exploration by 225.5% during the 4th quarter. XTX Topco Ltd now owns 41,778 shares of the business services provider’s stock worth $30,000 after purchasing an additional 28,943 shares in the last quarter. 49.96% of the stock is owned by hedge funds and other institutional investors.

About Odyssey Marine Exploration

Odyssey Marine Exploration, Inc, together with its subsidiaries, discovers, validates, and develops seafloor mineral resources worldwide. The company provides specialized mineral exploration, project development, and marine services to clients. Odyssey Marine Exploration, Inc was founded in 1994 and is headquartered in Tampa, Florida.